Firm may make rival offer

Monday, April 28, 2003 | 9:48 a.m.

Financial Capital Investment Co., which is backed by investors from Los Angeles to Asia, may make a bid for the Aladdin casino resort in Las Vegas, the Wall Street Journal reported today, citing the company.

Richard Alter, managing director of Financial Capital, which owns the Omni Hotel in downtown Los Angeles, said the company wants to outbid a proposal by a Starwood Hotels & Resorts Worldwide Inc. venture to turn the Aladdin into a Planet Hollywood casino and a Sheraton hotel, the newspaper reported.

Alter wants to turn the Aladdin into a Far East-themed casino targeting middle-market gamblers, the Journal reported. The casino would rely mostly on revenue from slot and video poker machines.

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